Comment on Now we know how much it costs to make a $2,800 Dior bag

• minibyte@sh.itjust.works ⁨4⁩ ⁨months⁩ ago

  Now you’re starting to understand how money is laundered through art.

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• treadful@lemmy.zip ⁨4⁩ ⁨months⁩ ago

  Well, yes. But we can still make fun of whoever bought it.

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• 9point6@lemmy.world ⁨4⁩ ⁨months⁩ ago

  I mean, I’m definitely not defending this massively overpriced bag, but an artist can spend less than a hundred on materials to make a piece of art, and it sells for millions

  The value of the materials and even the labour that goes into making it are not the only things that determine the value of luxury items, value is heavily determined by scarcity in one way or another.

  For the piece of art, this is actual scarcity, there may only be one. For the bag, the scarcity is somewhat crazily generated by the RRP meaning many won’t buy it and therefore creating the scarcity to justify the value.

  It’s kinda a microcosm of capitalism, where value is created by the perception of value.

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• best_username_ever@sh.itjust.works ⁨4⁩ ⁨months⁩ ago

  If I sell a turd for 2700$ the turd has “value”.

  Yes, it works well for bitcoins and NFTs.

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